Author Archive
If You Cannot Afford Your Borrowings There Is Always Help At Hand
There are a number of different organisations that can be of use when you are struggling with debts, ranging from professional debt management companies, insolvency practitioners right through to charitable debt advice organisations.
The thing to remember when choosing a debt advice organization is that you will get what you pay for, so if you are [...]
Interest Rate Predictions Thursday February 5th 2009
Today is the bank base rate announcement, which means for many there could be even lower interest rates. With the bank base rate already at an all time low of 1.5%, many out there believe it will be reduced further.
I read on interesting article about Bank of England interest rates predictions that predicts that the base [...]
UK Economy Officially In Recession
It has been made official today with figures released by the Office for National Statistics that the UK Economy has now had two consecutive quarters of negative growth in the Gross Domestic Product. This is probably the worst kept secret of the last few months, few if any commentators expected anything but gloomy news.
The worst hit [...]
Northern Rock Splash The Cash
It was reported today in The Mail that Northern Rock, the Newcastle based bank has announced a bonus scheme for it’s workers, as a way of rewarding them for the hard work they have done in helping the bank achieve it’s target of repaying part of its bail out loan from the government.
The amount of money being [...]
Bad Credit Debt Consolidation Advice
With the economic slowdown hitting many families hard in terms of their employment prospects or chance of redundancy, there may be many more people than usual who’s credit record goes from good to bad.
There’s a common statistic that most families in Britain are three paycheques short of bankruptcy - that is, if they didn’t have a [...]
How To Remortgage
As a former mortgage advisor, who dealt with many remortgages during my time advising clients, I am well placed to offer some general guidance on this topic.
Step 1
Check when your current discount period comes to an end, this will be stated in your illustration, mortgage offer and the paperwork sent to you by your lender when [...]
House Sales Still Declining Not Reached Rock Bottom Yet
House prices are still falling, despite the base rate cuts by the Bank of England and the measures taken by the government to increase the flow of credit in the UK economy.
According to the RICS Housing Market Survey the average number of sales per surveyor fell from 10.6 to 10.1 in the three months to December 2008, to [...]
Mortgage and borrowing predictions for 2009
I used to work as a mortgage broker until the credit crunch put me out of business, and I often wonder how long the mortgage / credit markets will take to get back to “normal”, or something approaching what they were like pre-credit crunch. I suspect it will be many years before they get back [...]
Bank of England Base Rate Lowered from 2% to 1.5%
The Bank of England announced the new base rate at midday today, a cut of a further 0.5% on last months rate of 2%, brining the new rate down to 1.5%.
This will mean that the UK is now seeing the lowest rate of interest for over three hundred years, and in fact the lowest rate [...]
Maximize The Benefit Of A Debt Consolidation Loan
I worked as a mortgage broker for a number of years until recently and in my time got to see many clients who largely were not very good at handling their money. The recurring theme was that they borrowed a small amount of money, and before they had managed to pay it back, they needed [...]